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6

Government contribution to expenses under the Convention

Act: Arbitration (International Investment Disputes) Ordinance 2010

Section Provisions

ORDINANCE VI OF 2010 ORDINANCE VI OF 2010 ARBITRATION (INTERNATIONAL INVESTMENT DISPUTES) ORDINANCE, 2010 An Ordinance to implement the International Convention on the Settlement of Investment Disputes between States and Nationals of other States [Gazette of Pakistan, Extraordinary, Part I, 20th April, 2010] F. No.2(1)/2010-Pub. Dated 20-4-2010.---The following Ordinance promulgated by the President on the 18th April, 2010 is hereby published for general information: Whereas, Pakistan has signed and ratified the International Convention on the Settlement of Investment Disputes between States and Nationals of other States; And whereas, the National Assembly is not in session and the President is satisfied that circumstances exist which render it necessary to take immediate action; Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance: 6. Government contribution to expenses under the Convention.--Any sums required to meet any obligations of the Government arising out of Article 17 of the Convention (which obliges the Contracting States to meet any deficit of the Centre) shall be charged on and paid out of the Federal Consolidated Fund.